Chemtura agrochemical sales down 16% in Q1 2016

Date:05-05-2016

Chemtura’s agrochemical manufacturing segment recorded a decrease of 16.1% in net sales to $26 million. The decrease in net sales is attributable to a reduction in volume due to timing of shipments under company’s supply agreements. The results for all periods reported include $9 million in net sales and operating profit related to the non-cash amortization, net of accretion, of a below-market contract obligation that is related to Chemtura’s supply agreements. Operating income increased 25% to $10 million in this quarter.